Copa Holdings, S.A. $CPA Shares Sold by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda lessened its stake in Copa Holdings, S.A. (NYSE:CPA) by 6.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 406,642 shares of the transportation company’s stock after selling 27,602 shares during the period. Copa accounts for 4.0% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 5th biggest holding. SPX Gestao de Recursos Ltda owned about 0.99% of Copa worth $48,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPA. Goldman Sachs Group Inc. boosted its holdings in shares of Copa by 56.1% in the first quarter. Goldman Sachs Group Inc. now owns 340,554 shares of the transportation company’s stock valued at $31,488,000 after acquiring an additional 122,413 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Copa during the second quarter worth approximately $12,875,000. BNP Paribas Financial Markets lifted its position in Copa by 185,488.3% in the second quarter. BNP Paribas Financial Markets now owns 111,353 shares of the transportation company’s stock worth $12,245,000 after purchasing an additional 111,293 shares during the period. Cullen Capital Management LLC lifted its position in Copa by 111.1% in the second quarter. Cullen Capital Management LLC now owns 184,228 shares of the transportation company’s stock worth $20,260,000 after purchasing an additional 96,968 shares during the period. Finally, Invesco Ltd. boosted its stake in Copa by 585.6% during the 2nd quarter. Invesco Ltd. now owns 94,361 shares of the transportation company’s stock valued at $10,377,000 after purchasing an additional 80,598 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPA. Wall Street Zen upgraded Copa from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Evercore reaffirmed an “outperform” rating and set a $185.00 target price on shares of Copa in a research note on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $190.00 target price on shares of Copa in a report on Monday, February 9th. JPMorgan Chase & Co. cut their price target on shares of Copa from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Finally, Barclays lifted their price objective on shares of Copa from $150.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.75.

Copa Stock Performance

Copa stock opened at $124.99 on Friday. Copa Holdings, S.A. has a fifty-two week low of $82.54 and a fifty-two week high of $156.41. The firm’s 50 day simple moving average is $136.41 and its 200-day simple moving average is $126.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.31 and a quick ratio of 1.20. The company has a market cap of $5.15 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, February 11th. The transportation company reported $4.18 EPS for the quarter, missing the consensus estimate of $4.44 by ($0.26). Copa had a net margin of 18.57% and a return on equity of 25.62%. The firm had revenue of $962.89 million during the quarter, compared to analysts’ expectations of $959.22 million. During the same quarter last year, the company posted $3.99 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Copa Holdings, S.A. will post 15.48 EPS for the current year.

Copa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $1.71 per share. This is a positive change from Copa’s previous quarterly dividend of $1.61. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, February 27th. Copa’s dividend payout ratio is presently 42.04%.

Copa Company Profile

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.